contestada

Operating income and tax rates for Blossom Company’s first three years of operations were as follows: Income Enacted tax rate 2020 $270000 25% 2021 ($870000) 20% 2022 $1550000 30% Assuming that Blossom Company opts only to carryforward its 2021 NOL, what is the amount of deferred tax asset or liability that Blossom Company would report on its December 31, 2021 balance sheet? Amount Deferred tax asset or liability $174000 Deferred tax asset $174000 Deferred tax liability $217500 Deferred tax liability $261000 Deferred tax asset